Frequently Asked Questions
Let me share a little more about the real estate process in general and specifically with working with me and Tierra Antigua Realty. If you have more questions, just ask! I’m always here to help, I know relocating can be difficult and my goal is to make it as simple and smooth as possible.
Questions About Buying a Home
What is the First Step in Buying a Home?
First step is speaking to a preferred lender to see if you can qualify for a home. If you are thinking about the future and not buying now they will develop a plan for you to hit your goals.
How do I determine how much house I can afford?
Your Realtor can get you in touch with their preferred lender so that we can all work together to see where you are at financially.
What does a Realtor do for me as a Buyer?
Understands and works towards your needs
Has a vast knowledge of the community, neighborhoods and schools
Understands the market
Find properties that fit your needs and budgets
Arrange showings to view homes
Evaluate properties and blemishes and pluses of each
Negotiates offers
Takes care of all the paper work, contracts, disclosures
Coordinated with all inspectors you are needing for a home
Provides resources/ contacts for contractors
Guides you every step of the way
Has a vast knowledge of the community, neighborhoods and schools
Understands the market
Find properties that fit your needs and budgets
Arrange showings to view homes
Evaluate properties and blemishes and pluses of each
Negotiates offers
Takes care of all the paper work, contracts, disclosures
Coordinated with all inspectors you are needing for a home
Provides resources/ contacts for contractors
Guides you every step of the way
How long does it take to buy a home?
Every home is different depending on the market. Markets change constantly so there is no set time frame. It all depends on correct pricing, condition of the home, location and a great agent (that’s me) to market it.
Do I need to get pre-approved for a mortgage before looking at homes?
Yes! There is no point in wasting time or crushing your dreams of falling in love with a home you can’t afford.
What are closing costs and who pays them?
Closing costs are fees that both sellers and buyers pay to complete the transaction of a home. Loan origination fees, title fees, home inspection costs, appraisal fees … etc.
Is it easy to use a VA Home Loan to purchase?
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What does "under contract" mean?
Under contract means that the seller has accepted an offer on the home. In some cases homes may accept back up offers which mean if the original offer falls through for any reason the back up offer would fall into first position.
How much money do I need for a down payment?
This will be different for everyone. Depending on the loan you qualify for, and what is negotiated during the contract. Your down payment is personal to you.
What should I look for when touring a home?
Location, if it has the important things you need, if it doesn’t, if it can be remodeled, if it’s in the location/neighborhood you want.
I always suggest to my buyers to visit the home during different types of the day so that you can see how the neighborhood at different times of the day. It’s also great to talk to the neighbors.
I always suggest to my buyers to visit the home during different types of the day so that you can see how the neighborhood at different times of the day. It’s also great to talk to the neighbors.
How does earnest money work?
It’s the good faith money you put down to show that you are serious about the offer. It is written on the offer and is required to be deposited 24 hours after the offer is accepted. It is held by a third party usually escrow or title company.
What's the difference between a fixed-rate and an adjustable-rate mortgage?
Fixed rate is the rate you lock in at the time of the loan. It will never change unless you refi your home.
Adjustable rate changes with the terms of the loan. It can start at a lower rate and increasingly get higher throughout the years depending on the terms of your loan. Speak to a preferred lender to FULLY understand the difference in both.
The fixed rate mortgage your monthly payment will not change (only of taxes or insurance change) the adjustable rate your monthly payment can increase dramatically.
Adjustable rate changes with the terms of the loan. It can start at a lower rate and increasingly get higher throughout the years depending on the terms of your loan. Speak to a preferred lender to FULLY understand the difference in both.
The fixed rate mortgage your monthly payment will not change (only of taxes or insurance change) the adjustable rate your monthly payment can increase dramatically.
Do I need a home inspection and how does it work?
YES!! I HIGHLY recommend them to all my buyers. It’s a great way to identify potential issues or concerns with the home. You can negotiate repairs or issues, you will have an idea of financial costs for the future.
The process is a simple one. You would schedule a licensed qualified home inspector (don’t worry I have a list you could research and chose from) they would come to the home and inspect it from top to bottom. They would inspect both the inside and outside of the home. They would document and create a report that shows you every small to major issue with the home and they would explain it all to you. Concerns can be negotiated or if they are too big of a concern contract can be canceled (within agreed time frame in the contract) and earnest money would be returned.
The process is a simple one. You would schedule a licensed qualified home inspector (don’t worry I have a list you could research and chose from) they would come to the home and inspect it from top to bottom. They would inspect both the inside and outside of the home. They would document and create a report that shows you every small to major issue with the home and they would explain it all to you. Concerns can be negotiated or if they are too big of a concern contract can be canceled (within agreed time frame in the contract) and earnest money would be returned.
Can I back out of an offer once it's accepted?
Yes. After offer is accepted you have a due diligence/inspection period. Within the contracts agreed dates, if you find out anything that you are not comfortable with you can cancel and earnest money is returned.
How does the appraisal process work?
Appraisals are needed for all loans who are qualified with a lender. An appraisal is ordered by the lender to ensure that they are not lending more money than the property is worth. A qualified appraiser will visit the property to evaluate condition, size, layout and features. They will pull a comparable market analysis on other homes in the neighborhood that have sold and compare list price to those. The appraisal will be sent to the lender with all factors and details to verify their appraised value to the home.
Questions For Sellers
How do I determine the value of my home?
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What can I do to increase my home's value before listing it?
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How is the listing price determined?
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What is staging, and is it necessary?
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Does my home have to sell before I buy another?
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What happens during an open house?
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Are there any fees I need to pay as a seller?
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Working with me, Christine, as Your Realtor
Why should I work with a real estate agent instead of buying or selling on my own?
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What's your experience in the local market?
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How will you help me find the right home?
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How do you market homes for sale?
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What should I expect when working with you?
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What are your hours of availability?
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